Golden Sparrow

[Snowy170]

It's very easy to be close minded and pass judgement, but who really knows for sure it's a scam?
I "think" it is a scam, but the strategy seems like it could be plausible. Keeping in mind I have no experience in the industry.
That is a why I thought I'd post on here.
If there was a 1% chance it wasn't a scam how would you find that out before investing?
I'm not going to invest in something I'm not sure about, but if I invested (or donated) $1000 here and lost it I would be doing better then I have with a lot of my shares.

 

[McLovin]

It's very easy to be close minded and pass judgement, but who really knows for sure it's a scam?
I "think" it is a scam, but the strategy seems like it could be plausible. Keeping in mind I have no experience in the industry.
That is a why I thought I'd post on here.
If there was a 1% chance it wasn't a scam how would you find that out before investing?
I'm not going to invest in something I'm not sure about, but if I invested (or donated) $1000 here and lost it I would be doing better then I have with a lot of my shares.

Yeah, if I had a system that was generating those returns I'd really need to be cold calling retail investors trying to get money. I think the clue is in the fact you said "it could be plausible" then followed it with "I have no experience in the industry".

It's your money, do what you want. When you lose it all be sure to post back here so we can finally resolve the burning question:

who really knows for sure it's a scam?

 

[investorpaul]

I "think" it is a scam, but the strategy seems like it could be plausible. Keeping in mind I have no experience in the industry.

So you have no experience, yet feel as though you are experienced enough to pass judgement on whether it is a scam or not...... good luck.

If there was a 1% chance it wasn't a scam how would you find that out before investing?

In other words you are saying even if there is 99% chance it is a scam you still want to consider giving them your money...... good luck for the second time

I'm not going to invest in something I'm not sure about, but if I invested (or donated) $1000 here and lost it I would be doing better then I have with a lot of my shares

So you are willing to donate $1000 to anyone who asks?

Why would you "donate" money to a scheme that using your analogy has a 99% chance of being a scam?

Spin the roulette wheel mate, if you are not interested in considering the opinion of a number of well informed posters (SKC, Tech/a, etc) then why are you asking for opinions on a stock market forum.

If you don't like roulette perhaps you could withdraw $500 and flush it down the toilet. At least you will still have $500 in your account.

 

[tech/a]

It's very easy to be close minded and pass judgment, but who really knows for sure it's a scam?
I "think" it is a scam, but the strategy seems like it could be plausible. Keeping in mind I have no experience in the industry.
That is a why I thought I'd post on here.
If there was a 1% chance it wasn't a scam how would you find that out before investing?
I'm not going to invest in something I'm not sure about, but if I invested (or donated) $1000 here and lost it I would be doing better then I have with a lot of my shares.

Well FIRST THING
Ask for their ASIC license.---no license no hand over $$s
SECONDLY
Ask for a independently audited Trading account over the last 12 mths min.
If its that good they will be trading it NOW.
I know one who has 5 going NOW and fits the above.

Due diligence isnt that hard!!

 

[skc]

I have also been contacted by Golden Sparrow. I am very skeptical and this thread has made me more skeptical.
It seems like a scam, but it also seems like it could be legit.
Why is this thread the only information I can find on the net? If lots of people had been scammed by this company wouldn't there be more people writing about it on forums etc.?
The person who called me has agreed to meet me in person. How do I find out if this is legit?

Thanks.

I have been contacted by golden Sparrow. I did a company search and found the directors name and the registered business address. the registered business address appears to be a holiday home in Surfers Paradise, (a bit suss). They have been in business since 2008 and there don't appear to have had bad publicity. The broker I spoke to told me his broker licence which I checked with ASIC but the company does not hold an AFS licence, do they need to? I am doing more checks on the broker. The office address in Canberra is located in a hotel called the Realm which leases office space. I contacted the hotel to confirm and found out the office that golden Sparrow operate from is a virtual office. (maybe suss). The story is the brokers operate from around the country and don't go to the office. I gave them $1,000 to invest on a trial which has been there for 1 week and apparently returned approx. 3% so far. I am very sceptical and relise I have probably donated that $1,000.
If anyone else has any information to share on this company it would be appreciated.

I have just been contacted by Charles from Golden Sparrow... with promises of some very attractive returns... 2% to 3% per day!!!
Charles says that I had been contacted previously, and he gave me a name I did remember, but I'm sure that was from another company, based on the Gold Coast. Not sure, but I think I wrote them off as dodgy at the time.
I also would appreciate any further info anyone can offer!

OK... Question of the day. How many of these guys are from the same IP address?

 

[Snowy170]

Paul,

Firstly I was admitting I don’t have enough experience to pass judgement. That is why I am asking some people who have more experience than me.

Secondly if there is a 1% chance this deal wasn’t a scam I would go to the effort of asking about it on a forum. That’s a long way off handing money over.

Thirdly “I’m not going to invest in something I’m not sure about.”

But if putting me down makes you feel like a big tough man, I’m glad I could help.

And thank you very much tech/a for your helpful response. No doubt it will help a few other people that find this thread.

 

[investorpaul]

Paul,

Firstly I was admitting I don’t have enough experience to pass judgement. That is why I am asking some people who have more experience than me.

Secondly if there is a 1% chance this deal wasn’t a scam I would go to the effort of asking about it on a forum. That’s a long way off handing money over.

Thirdly “I’m not going to invest in something I’m not sure about.”

But if putting me down makes you feel like a big tough man, I’m glad I could help.

And thank you very much tech/a for your helpful response. No doubt it will help a few other people that find this thread.

All I did was state facts based on your statements.

If you wish to proceed with this then there is nothing more to be said that good luck.

 

[Snowy170]

All I did was state facts based on your statements.

If you wish to proceed with this then there is nothing more to be said that good luck.

I don't wish to proceed, I wish to find out what I can from people who know more than me.

I also don't wish to having my words twisted to boost someone else's ego.

I have taken on board the serious replies and I thank the posters for them, but I still have questions. And that doesn't mean I am about to go and throw my money away.

 

[Julia]

Snowy, don't be too offended because some members are fairly outspoken. If they didn't want to be helpful to you, they just wouldn't bother posting.

You concede you are inexperienced. Just appreciate that many people here have seen dozens of these scams and find it hard to believe anyone can still get sucked in.

Good to know you're just, um, increasing your awareness and not actually planning to donate money to these people.

There are plenty of safe ways to invest.
Good luck.

 

[AlphaOmega]

Re: Golden Sparrow - A SCAM

any dealings with Golden Sparrow? All seems to be too good to be true, as scams usually are.

Golden Sparrow is a SCAM! They don't hold an Australian Financial Services Licence; they cold call and impersonate real brokers who do hold an AFSL.

If you want to donate your money then do so to a worthwhile charity rather than enriching a bunch of criminals.

 

[savi]

Just to inform all involved with this thread. Golden Sparrow was a scam. I checked out the broker lic. and they were impersonating another honest broker using his name and broker number. ASIC investigators were involved and the company was taken to court and shut down, not sure if the scammers were court but I am sure there probably are some people out there that would like to get there hands on them.